Fortescue Metals Group Ltd.,
Australia’s third largest iron ore producer, had its earnings
forecast reduced 11 percent by Royal Bank of Scotland Group Plc
because of the stronger Australian dollar.

Net profit in the year ending June 30, 2011 may be $1.634
billion, analysts led by Lyndon Fagan said in a report dated
yesterday. The downgrade is “mostly as a result of the
stronger” Australian dollar, he said.